PSNOT 2.0 - I kind of want to subscribe to IndieBox.

Status
Not open for further replies.
pharmacrest said:
Oh wait. That's right. You guys blow a SHIT ton of money on "collectables" and thousands of video games you will never play.
Click to expand...
Like Soph said, three days later we will still have those collectibles and games to enjoy. You'll have an extra fancy turd and an extra pound or two.
 
Paying off your home is better than hanging onto a home loan for the tax break.

Tyler could take his (just using a round number) 1k a month house loan and put 1k a month into savings,  or put whatever amount per month to max a roth ira out in a year, or take 1k a month to the strip club and make it fucking rain.

Point is he now has 1k a month not being put toward a house, he paid off the house quicker and save a TON of interest (assuming the 4 year hes saying is paying off early, which again would out weigh any tax benefits), and if something were to happen (lose job, get sick) hes got a PAID FOR asset and has a place to live for free minus utilities and property tax (fucking gubment, you still have to pay to "rent" fucking land you "own"). And generally speaking, as long as your didnt buy during a bad bubble, your house shouldnt really lose value and should hopefully appreciate over time.

Paid for house is the dream.

Tyler you have a townhouse right? Thats even better. Rent that shit out and buy you another one, use the money from the rent to pay for your new place, or help knock out a large chunk of the new place. There are lots of companies that will manage it for you and take a small cut from your rent income to do so.

 
Last edited by a moderator:
Thermopyle said:
Can you explain this? I'm not sure what the benefit is to holding on to the home loan. What does that have to do with inflation?
Click to expand...
If inflation rises, then you're paying your mortgage back with cheaper dollars tomorrow than today. It's the beauty of the fixed payment. Now, if you have an adjustable rate it's not a great help.

But not only that. My mortgage rate is 3.375%. And since Uncle Sam incentivizes mortgage debt, the effective rate is even less. As long as I can beat that with investments over the life of the loan using the money I would have put into early payoff, I come out ahead.

 
pharmacrest said:
None of you just go blow some money on a nice $500 dinner ......
Click to expand...
tumblr_moxfswPSyC1r986t6o1_400.gif


 
Glad to read the posts on the retirement funds. Very informative but brief and to the point. I'm young and know next to nothing about that stuff, although I've been meaning to figure it all out. Thanks guys.
 
kilik64 said:
You should eat at the catbird seat, seems right up your alley.
Click to expand...
Never heard of it. I'll check it out. Right now the only somewhat expensive place we go is Cantina Laredo. They've got a quarterly tequila dinner--$50 if you drink, $30 if not. We always go with a bunch of friends. We really need to start eating out at new places more since the other restaurants we frequent have gotten routine.

 
simmias said:
If inflation rises, then you're paying your mortgage back with cheaper dollars tomorrow than today. It's the beauty of the fixed payment. Now, if you have an adjustable rate it's not a great help.

But not only that. My mortgage rate is 3.375%. And since Uncle Sam incentivizes mortgage debt, the effective rate is even less. As long as I can beat that with investments over the life of the loan using the money I would have put into early payoff, I come out ahead.
Click to expand...
There is another side to that scenario as well. If there is inflation and your pay does not rise faster than inflation, then even though your payment is the same, it is now essentially a larger chunk of your income. If you could have that cost gone then it allows you more freedom if there is rapid inflation without an equal raise in pay.

Depending on the investment vehicle you also need to factor in for any taxes you pay on the gains in the calculation. Many people seem to ignore that piece.

You also have to assume your house is expensive enough to not be better off claiming the standard deduction (which I think Tyler said he does) to count the tax savings on the mortgage interest. It is extremely unlikely, but not impossible that the government could make mortgage interest no longer tax deductible as well. I think we are the only country in the world where it is.

I paid my house off by the time I was 35. I may be an anomaly since I was also saving a good chunk for retirement at the same time. If I had not done that, it would have not given me the freedom to take on other large expenses I have had the last few years.

I think the "good debt" talk is a bit over inflated at times. I do not think you are in that group, but a lot of people like to use that as a reason to not pay off their mortgage even though they aren't doing the investment piece for it to make sense.

 
Now let's talk about Alexander IV. Is this the one that sucks for everybody?

Edit - to stay on topic, buy low sell high. Why isn't vig a house flipper?
 
Last edited by a moderator:

GatorBeerGeek said:
There is another side to that scenario as well. If there is inflation and your pay does not rise faster than inflation, then even though your payment is the same, it is now essentially a larger chunk of your income. If you could have that cost gone then it allows you more freedom if there is rapid inflation without an equal raise in pay.

Depending on the investment vehicle you also need to factor in for any taxes you pay on the gains in the calculation. Many people seem to ignore that piece.

You also have to assume your house is expensive enough to not be better off claiming the standard deduction (which I think Tyler said he does) to count the tax savings on the mortgage interest. It is extremely unlikely, but not impossible that the government could make mortgage interest no longer tax deductible as well. I think we are the only country in the world where it is.

I paid my house off by the time I was 35. I may be an anomaly since I was also saving a good chunk for retirement at the same time. If I had not done that, it would have not given me the freedom to take on other large expenses I have had the last few years.

I think the "good debt" talk is a bit over inflated at times. I do not think you are in that group, but a lot of people like to use that as a reason to not pay off their mortgage even though they aren't doing the investment piece for it to make sense.
Click to expand...
But that's why I think of it as a hedge. I have other investments that will help in other scenarios. I never like to put all my eggs in one basket. I think you guys are a little nuts for holding so much of your assets in real estate, and you guys probably think I'm nuts for thinking I can beat my mortgage rate in other investments, even though history's definitely on my side. But that's the beauty - even on the best finance sites this is always a debate.

It's like with my retirement accounts - I have both traditional and Roth because it's hard to predict the future and I like to hedge my bets whenever possible. I weigh heavier in one because that's my best prediction, but I still want my ass covered for life changes, tax code changes, etc.

And mortgage interest deductions may get caps, but there's no way in hell it's going away in our lifetimes. Not only would that piss off one of the most powerful lobbies in the country, but it would piss off too large a share of the voters.

 
Last edited by a moderator:
Played some more Kirby's Epic Yarn.

Stopped restarting the levels in order to get a gold rating. It's now going by much faster. I think I might actually finish it by the end of the week.


On another note, new job is going well. Officially start on Monday (last time was just training).
 
tylerh1701 said:
Jeff, that is part of the strategy for sure. Definitely can't get hit by him it takes a TON of damage.
Click to expand...
Thanks, I'll keep plugging away tomorrow. I suspect my biggest problem is movement - I do the teleport to the other side + get a couple hits + teleport back to shadow thing too but it's not terribly elegant and I often fuck it up or run into a swarm of skulls. Maybe I'll try to find a video if I'm still hitting a wall, but I'd like to do it on my own (and I think the best strategy is to not suck anyways).
 
MildObstruction said:
Thanks, I'll keep plugging away tomorrow. I suspect my biggest problem is movement - I do the teleport to the other side + get a couple hits + teleport back to shadow thing too but it's not terribly elegant and I often fuck it up or run into a swarm of skulls. Maybe I'll try to find a video if I'm still hitting a wall, but I'd like to do it on my own (and I think the best strategy is to not suck anyways).
Click to expand...
There's a strategy that can help eliminate a bunch of the nuisance smaller skulls, I don't remember exactly what you have to do though. But when you get it to work it really helps.

 
simmias said:
But that's why I think of it as a hedge. I have other investments that will help in other scenarios. I never like to put all my eggs in one basket. I think you guys are a little nuts for holding so much of your assets in real estate, and you guys probably think I'm nuts for thinking I can beat my mortgage rate in other investments, even though history's definitely on my side. But that's the beauty - even on the best finance sites this is always a debate.

It's like with my retirement accounts - I have both traditional and Roth because it's hard to predict the future and I like to hedge my bets whenever possible. I weigh heavier in one because that's my best prediction, but I still want my ass covered for life changes, tax code changes, etc.

And mortgage interest deductions may get caps, but there's no way in hell it's going away in our lifetimes. Not only would that piss off one of the most powerful lobbies in the country, but it would piss off too large a share of the voters.
Click to expand...
I definitely do not think you are nuts. I realize that your method has historically been the best financially when looking at things in a vacuum from a pure mathematical perspective. I think that there are too many people that like to use your logic to not pay off a house when they are also not using that money for investments is all.

I am definitely not heavy in real estate. I was maxing out a 401k and Roth IRAs at the same time I was paying off the house. When we first got our house the interest rate was over 6% so it was a much different scenario for me than at the current rates. I do not even look at my house as an investment. I see it as a place to live and that is it. Of course I want it to increase in value, but since I have no plans to move until retirement (if then) then I really don't care.

I have only recently gone to mainly all Roth vehicle method for current investments, but I have a good amount in traditional accounts due to a 401k rollover account from my previous job. My 401k is actually Roth based now as well.

You are more confident in our lawmakers than I am. I think they have proven they don't really give a shit about what the public thinks about things they want to happen. With that said, I would be shocked if they changed those laws.

 
Scrolling thru the many pages of finance talk like

giphy.gif


pharmacrest said:
Seriously, do none of you guys just splurge on something sometimes? And I am not talking about video game or other nerd related collectables either. None of you just go blow some money on a nice $500 dinner or go to the casino or go on a nice vacation and not worry about money for a few days?
Click to expand...
Last year I dropped around 700 on a 55" tv, does that count?

pitfallharry219 said:
Come see Chris and Ben and two Steves and Donnie and Mike and Jeff and Tyler and several Matts!
Click to expand...
Allow CJ to join the party!

 
Scrolling thru the many pages of finance talk like

confused-o.gif


pharmacrest said:
Seriously, do none of you guys just splurge on something sometimes? And I am not talking about video game or other nerd related collectables either. None of you just go blow some money on a nice $500 dinner or go to the casino or go on a nice vacation and not worry about money for a few days?
Click to expand...
Last year I dropped around 700 on a 55" tv, does that count?

pitfallharry219 said:
Come see Chris and Ben and two Steves and Donnie and Mike and Jeff and Tyler and several Matts!
Click to expand...
Allow CJ to join the party!

 
tylerh1701 said:
Who's the best character in Dont Die Mr Robot again?
Click to expand...
It depends on the level. I used Dunjun Guy (or whatever) for the levels that require killing enemies, avoiding fruit, or surviving as long as possible, the default Mr. Robot for the kill-enemies-with-one-fruit and you're-bigger levels, and the small fast yellow guy (can't remember his name) for one level that required avoiding really fast enemies.

 
Last edited by a moderator:
bestkeeper14 said:
I am shocked that some of you call yourselves cags... Saying I only do it cause I like lump sums vs just putting that extra money in savings is kinda sad. If we are all such great savers and cheapasses you should be able to but aside the difference in each check to a savings account and payyourself come tax time. I either never owe anything or owe a little, currently with the wife in school full time I need every penny on each check. After my annual raise I may have them take more out of the check to try and break even next year.
Click to expand...
I'm pretty sure it's because most of us are poor with lacking impulse control. Case in point, I need this Vita:

http://tinycartridge.com/post/110172169737/persona-4-dancing-all-nights-crazy-vita-le
 
I'd like to work more on savings/retirement. We're okay to handle an emergency and have some retirement money set up, but it's not as good as it should be. Right now I've got the house, student loans, and a car that I'm working on. The house is 3.25%, the car 3%, and the loans 4.5% and 6.25%. All together it's a bit over $4k a year in interest, which doesn't make me happy. I've been overpaying on the student loans but I'm thinking I'll switch focus to the house since it's about $1k/year more and student loans are easier to suspend if I need to for some reason. I really do hate the student loans the most, though; they feel so worthless since they're not attached to anything material and are impossible to sell off.

I'd rather be working on 401k/Roth IRA but the return rate on those is less predictable and the debt I have large enough that the loan interest would eat up any retirement earnings. 

If I were so lazy I'd use my gaming/leisure time for side work to knock this stuff out a lot faster. But I am lazy.  :whistle2:

 
Thanks Vig.  Did you give up on all the plats on Don't Die?  I have 3 silvers left then I'll have all the golds at least.  All plats sure seems tough, I'm really struggling on some of these golds.

 
Can I earn trophies while my PS4 is offline or does that screw it up?

Thermopyle said:
Actually they can air anything on basic cable. The FCC can regulate OTA content, but cable has no such restrictions AFAIK.
Click to expand...
Fine one that would air on basic cable.

 
Last edited by a moderator:
Unfortunately for us, I'm pretty sure cable networks would say Velo's life isn't interesting because there's no conflict.
 
Not sure how I feel about Road not taken after a couple levels.  I don't dislike it but it's also not quite what I was hoping for.  I mainly think I just won't be quite good enough at it to really enjoy it but we shall see.

 
tylerh1701 said:
Thanks Vig. Did you give up on all the plats on Don't Die? I have 3 silvers left then I'll have all the golds at least. All plats sure seems tough, I'm really struggling on some of these golds.
Click to expand...
Yup. After getting almost half of the plats in that, things started to get too difficult for me to worry about getting the rest of them, so I just got all of the golds.

 
Vigilante said:
Yup. After getting almost half of the plats in that, things started to get too difficult for me to worry about getting the rest of them, so I just got all of the golds.
Click to expand...
Quitter.

I'll bet if we had made Mr. Robot this month's game you would've gotten all of them in a day or two.

 
Last edited by a moderator:
There's an Alex4 glitch where you can get all the mini dudes to spawn on one side of the room. I couldn't get it to work though, they always just came back over to me.
 
TopsideKracker said:
Quitter.

I'll bet if we had made Mr. Robot this month's game you would've gotten all of them in a day or two.
Click to expand...
Probably. The lack of an actual plat trophy also had something to do with my stopping now since it hardly seemed worth the stress for a gold trophy, though I mainly hated how too many of the later levels depended much more on luck than skill for the best scores.

OlliOlli's Rad Mode was much more fun to conquer.

 
Last edited by a moderator:
Status
Not open for further replies.
bread's done
Back
Top